Russian foreign trade
reports and reviews

Russian trade with Faroe Islands in 2012

by Russian Foreign Trade
based on data from the Federal Customs Service of Russia
The Report on Russia’s foreign trade in goods with Faroe Islands in 2012: exports, imports, products, dynamics.

Russia’s Trade with Faroe Islands

In 2012, Russia’s trade with Faroe Islands totaled $79,229,807, up 158.42% ($48,570,215) from 2011.

Russia’s exports to Faroe Islands in 2012 totaled $1,665,985, up 16.29% ($233,356) from 2011.

Russia’s imports from Faroe Islands in 2012 totaled $77,563,822, up 165.38% ($48,336,859) from 2011.

Russia’s trade deficit with Faroe Islands in 2012 was $75,897,837, a 173.07% increase ($48,103,503) over 2011.

Faroe Islands was Russia’s 123rd largest trading partner in 2012 (up from 139th in 2011), accounting for 0.0094% of Russia’s total trade (up from 0.0037% in 2011).

Faroe Islands was Russia’s 160th largest export market in 2012 (just as in 2011), accounting for 0.0003% of Russia’s total exports (just as in 2011).

Faroe Islands was Russia’s 85th largest supplier in 2012 (up from 106th in 2011), accounting for 0.0244% of Russia’s total imports (up from 0.0096% in 2011).

Russia’s Exports to Faroe Islands

The major share of Russian exports to Faroe Islands in 2012 (and in 2011) was accounted for the following product types:

  • Wood and wood products (HS codes 44-49) - 97.57% of Russia’s total exports to Faroe Islands (73.55% in 2011);
  • Chemical products (HS codes 28-40) - 1.79% of Russia’s total exports to Faroe Islands (3.86% in 2011);
  • Mineral products (HS codes 25-27) - 0.00% of Russia’s total exports to Faroe Islands (1.92% in 2011).
  • Food products and agricultural raw materials (HS codes 01-24) - 0.00% of Russia’s total exports to Faroe Islands (20.54% in 2011).

The largest gains in Russia’s exports to Faroe Islands in 2012 over 2011 were recorded for the following product groups:

  • Paper and paperboard; articles of paper pulp, of paper or of paperboard (HS code 48) - an increase of $513,398;
  • Wood and articles of wood; wood charcoal (HS code 44) - an increase of $58,397;
  • Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof (HS code 90) - an increase of $10,749.

The largest declines in Russia’s exports to Faroe Islands in 2012 over 2011 were recorded for the following product groups:

  • Products of the milling industry; malt; starches; inulin; wheat gluten (HS code 11) - a decrease of $287,657;
  • Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes (HS code 27) - a decrease of $27,500;
  • Rubber and articles thereof (HS code 40) - a decrease of $25,494;
  • Tobacco and manufactured tobacco substitutes (HS code 24) - a decrease of $6,537.
Russia’s exports to Faroe Islands in 2012 by product groups
HS
code
Name of product group Value of exports
in 2012,
US dollars ($)
Percent share in total export Value of exports
in 2011,
US dollars ($)
Percent change
in 2012
over 2011
11 Products of the milling industry; malt; starches; inulin; wheat gluten 0 0.00 287,657-100.00
24 Tobacco and manufactured tobacco substitutes 0 0.00 6,537-100.00
27 Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes 0 0.00 27,500-100.00
40 Rubber and articles thereof 29,740 1.79 55,234-46.16
44 Wood and articles of wood; wood charcoal 462,527 27.76 404,13014.45
48 Paper and paperboard; articles of paper pulp, of paper or of paperboard 1,162,969 69.81 649,57179.04
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 0 0.00 2,000-100.00
90 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 10,749 0.65 0

Russia’s Imports from Faroe Islands

The major share of Russian imports from Faroe Islands in 2012 (and in 2011) was accounted for the following product types:

  • Food products and agricultural raw materials (HS codes 01-24) - 99.86% of Russia’s total imports from Faroe Islands (99.98% in 2011).

The largest gains in Russia’s imports from Faroe Islands in 2012 over 2011 were recorded for the following product groups:

  • Fish and crustaceans, molluscs and other aquatic invertebrates (HS code 03) - an increase of $48,230,624.

The largest declines in Russia’s imports from Faroe Islands in 2012 over 2011 were recorded for the following product groups:

  • No product groups with a substantial decrease.
Russia’s imports from Faroe Islands in 2012 by product groups
HS
code
Name of product group Value of imports in 2012,
US dollars ($)
Percent share in total import Value of imports in 2011,
US dollars ($)
Percent change
in 2012
over 2011
03 Fish and crustaceans, molluscs and other aquatic invertebrates 77,451,631 99.86 29,221,007165.05
44 Wood and articles of wood; wood charcoal 0 0.00 5,956-100.00
49 Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans 944 0.00 0
52 Cotton 794 0.00 0
84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 62,212 0.08 0
85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 48,241 0.06 0
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Russian foreign trade statistics
Source: Federal Customs Service of Russia